Karma Energy Ltd

Dematerialisation status

• Dematerialisation requests up to 30 June 2026 were confirmed to depositories and listed on the exchanges.
• Physical certificates received for dematerialisation were mutilated and cancelled; depository's name substituted as registered owner within 15 days.

AGM Details

• 19th AGM on Thursday, 23 July 2026 at 2:00 PM via VC/OAVM.
• Record date for the AGM is July 16, 2026.
• Cut-off date for voting eligibility is July 16, 2026.

Financial performance

• Total income FY25-26: ₹1305.36 lakh, up from ₹1144.04 lakh.
• PBT before tax: ₹-93.60 lakh; depreciation: ₹202.02 lakh.
• Tax expense including prior years: ₹-198.53 lakh; deferred tax: ₹-12.13 lakh.
• PAT: ₹104.93 lakh; total comprehensive income: ₹100.51 lakh; OCI: ₹-4.42 lakh.
• Dividend declared for FY25-26: none; reserves unchanged.

Operations & assets

• Wind assets total about 30.50 MW across Maharashtra and Tamil Nadu.
• Sites: Maharashtra Beed, Satara; Tamil Nadu Theni, Tirunelveli.
• Aranmanaikadu Theni wind turbine resumed after January 2024 fire.
• Company is debt-free; no borrowings at year-end due to settlements via Prapti.
• No subsidiaries or joint ventures.

Capital structure & dividends

• Paid-up equity capital: ₹115,699,180 (~₹11.57 crore).
• No new equity issued during FY25-26; no fixed deposits accepted.
• Dividend for FY25-26 not declared.

Corporate governance

• Board strength six; Chairman: Dharmendra G. Siraj; MD: Chetan D. Mehra.
• Independent directors: Balady S. Shetty; Smita V. Davda.
• Audit Committee: Chair Balady S. Shetty; members Neelkamal V. Siraj, Smita V. Davda.
• MD remuneration proposed for three-year term from Dec 1, 2026; salary ₹50 lakh p.a.
• Commission up to 10% of PBT; total remuneration cap: 5% of net profits.
• Four board meetings; independent director evaluation and familiarisation programs.

Remuneration & contracts

• MD appointment for three years; Dec 1, 2026 to Nov 30, 2029; subject to shareholders.
• Fixed salary raised to ₹50.00 lakh per annum from Aug 1, 2026.
• Commission up to 10% of PBT; perquisites as per policy; no MD sitting fees.
• Total remuneration ceiling: up to 5% of net profits.
• Termination: three months’ notice or salary in lieu; terms can be varied under the Act.

Risk & outlook

• Renewable energy sector faces regulatory delays by utilities and judiciary.
• Prapti portal improves invoice settlement; debt-free for 2-3 years.
• Capacity around 30.50 MW; focus on cost containment and cash management.

AGM & shareholders

• 19th AGM on 23 July 2026 at 2:00 PM via VC/OAVM.
• Cut-off date for voting: 16 July 2026; remote voting 20-22 July 2026.
• VC/OAVM attendance capacity: 1000 members.
• Speaker registration: 17-20 July 2026; login details on NSDL.

Audit & internal controls

• Statutory auditors: Batliboi & Purohit; audit fees ₹4.75 lakh; other services ₹0.21 lakh.
• Secretarial audit: Annexure VI; no adverse observations.
• Internal controls adequate; internal audit system in place.

Filing Status

• Trading window remains closed from July 1, 2026 until 48 hours after the board meeting.